Should you buy Callon Petroleum after the 16% dip on Friday?

It is now trading 20% lower than the new all-time hit high earlier this month.
CPE has a strong demand zone at $50, this is a crucial zone.
A target of $65 can be set, and a potential new all-time high could also be hit in the coming months.

Shares of independent oil and natural gas company Callon Petroleum (NYSE: CPE) fell by over 16% on Friday, it is now trading 20% lower than the new all-time high hit earlier this month. CPE showed great growth over the past year as it almost quadrupled in price, investors are now taking this chance to buy the dip before it starts rallying again.

The most probable reason for the fall in the price could be the fall in the price of oil due to fear of covid restrictions returning because of the possible outbreak of the omicron variant. Should you buy CPE amidst the panic amongst investors?

Here is what the charts are pointing towards?

Jun 04, 2026, 02:03 AM

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Should you buy Callon Petroleum after the 16% dip on Friday?

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